Citigroup Inc. Lowers Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

Citigroup Inc. lowered its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP – Get Rating) (TSE:BEP) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,476 shares of the utilities provider’s stock after selling 2,686 shares during the quarter. Citigroup Inc.’s holdings in Brookfield Renewable Partners were worth $3,023,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Brookfield Renewable Partners by 16.2% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 2,768,370 shares of the utilities provider’s stock worth $70,150,000 after buying an additional 385,795 shares in the last quarter. Beacon Investment Advisors LLC bought a new stake in Brookfield Renewable Partners in the fourth quarter worth $275,000. JCIC Asset Management Inc. increased its position in Brookfield Renewable Partners by 19.0% in the third quarter. JCIC Asset Management Inc. now owns 2,347 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 375 shares during the last quarter. Ervin Investment Management LLC increased its position in Brookfield Renewable Partners by 24.2% in the third quarter. Ervin Investment Management LLC now owns 45,212 shares of the utilities provider’s stock worth $1,415,000 after purchasing an additional 8,823 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Brookfield Renewable Partners in the third quarter worth $2,934,000. Hedge funds and other institutional investors own 57.61% of the company’s stock.

Brookfield Renewable Partners Trading Up 0.9 %

NYSE BEP opened at $31.87 on Tuesday. The company’s 50-day moving average price is $30.67 and its 200-day moving average price is $28.85. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.87. The stock has a market cap of $8.78 billion, a PE ratio of -60.13 and a beta of 0.82. Brookfield Renewable Partners L.P. has a 12 month low of $24.13 and a 12 month high of $41.30.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be issued a $0.338 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Tuesday, May 30th. Brookfield Renewable Partners’s payout ratio is presently -254.72%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Mizuho reduced their price target on shares of Brookfield Renewable Partners from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, April 17th. BMO Capital Markets boosted their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 28th. National Bankshares boosted their price objective on shares of Brookfield Renewable Partners from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, April 20th. Scotiabank reiterated a “sector outperform” rating on shares of Brookfield Renewable Partners in a research report on Thursday, April 13th. Finally, StockNews.com began coverage on shares of Brookfield Renewable Partners in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and an average target price of $38.56.

Brookfield Renewable Partners Profile

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Brookfield Renewable Partners LP engages in the ownership of a portfolio of renewable power and sustainable solution assets. It operates through the following segments: Hydroelectric, Wind, Utility-Scale Solar, Distributed Energy and Sustainable Solutions, and Corporate. The Distributed Energy and Sustainable Solutions segment includes distributed generation, pumped storage, renewable natural gas, carbon capture and storage, recycling, and cogeneration and biomass.